Top 10 New Business Trends
Emerging Business Trends that Can Help Your Business Grow
Companies not in the Fortune 500 need to stay ahead of their larger counterparts to stay in the game. Smaller companies often adopt new technologies and practices faster which can give them an edge in business. We thought it might be useful to put together a list of emerging business trends that will serve as a guide in your tireless effort to beat Goliath at his own game.
- The Recession is Waning. Companies are getting back to growing as access to capital and talent is freeing up. With new orders coming in and consumer confidence up, now is the time to strike. Many companies are looking to expand into new markets and take on additional employees to find new customers and better manage the ones they have.
- The Middleman is Dying. The Internet and other technology are moving all of us closer to suppliers. The role of the middleman, especially where there is little or no “value add”, is rapidly closing. Look to provide a greater value to your customers by giving them more information, greater transparency and better service. Main Street USA does not have to lose the war; it just has to work smarter and harder to win every battle.
- Starting a New Business is Easy. It has never been easier to start a new business. Entrepreneurs have amazing access to new tools that allow them to get started in no time. From virtual phone systems to online resources like LegalZoom, starting a business can take days.
- Mobility. Mobility. Mobility. The saying used to be “Location. Location. Location.” but with the rise of iPads, iPhones, Android devices and the bandwidth boom of 4G wireless networks, location simply doesn't matter as much anymore. Business today is done everywhere and anywhere. If you are not mobile, you are not connected.
- A Trending Four Letter Word – BYOD BYOD, or Bring Your Own Device, is now commonplace in many organizations. While this trend started with mobile phones, we are now seeing it expand to tablets, notebooks and other devices. This trend isn't cooling off either. Learn how to deal with the security of these types of devices before it is too late.
- Cloud is On. It is no longer a question of will the cloud happen – it is happening. Consumers have pulled the cloud through with the acceleration of mobility. You need access to all your data, personal and professional, in this new world.
- Smaller, Always On World Speaking of new worlds, ours has shrunk as well. While the Internet reduced the barriers of connecting with people around the world, it also reduces the distance between consumers and companies. But new customers are in different time zones and expect you to be available 24/7/365. Learn how to better manage your time and how to connect efficiently and effectively regardless of what time zone you customer happens to be in.
- Make Big Data into Bite-Sized Chunks The proliferation of data is amazing. Every system is now producing valuable data that, when filtered and sorted, can give you better insights on your customers and employees. Using tools to manage the data is key. You need small chunks of data that give you information needed to perform more analysis. Tools from Domo and Tableau are aiming to help companies better manage their data streams so they can improve.
- Work from Home Telecommuting has never been as popular as it is now, despite Marissa Myer mandating Yahoo workers come into the office every day. According to one report, almost 5% of employees are working from their home multiple days a week. How does teleworking fit into your business plan? ? It improves morale, decreases absenteeism and improves productivity.
- Family Matters Family has two sides. According to many, family businesses are at the heart of the economy. While working with family can be difficult at times, those bonds usually serve as good bonds in business too. The other side of the trend we see is that in this new world where we are always connected, you have to remember that those family connections matter most. Make sure to turn off, unplug and enjoy life! Lots of travel agents are now helping clients disconnect to refresh internal batteries.
What trends are you seeing? Leave us a comment.Photo by *USB* via Flickr.